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Tuesday, August 28, 2012

Financial Planner for 50’s : Preparation to retirement

When we reach 50, we may need so much money. Our Child may need education or college fund. It is not an easy task. The fifty should provide the education fund for the kid

Adjust the portfolio
The fifty often shift the investment to safe investment. They replace the stock with low risk bond. They do not want to gamble with their money. If they loss in the market, they do not know to change the money. They afraid their house will loss to cover the investment loss.
The blue chip stock or defensive stock may fit with the fifty investment due it generate dividend for the investor. The blue chip company is also stable, facing the tight economic.

Resize the house
When your kid has gone from your house, you may need to resize your house. You do not have to own a big house that may bothered you. You must be tired to sweep and peel the large floor. The cost of small house is also cheaper. You do need to make much maintenance to the house.

Retire
If you have much money, you can decide to retire at the fifty. In my country, the government will fire the public service who has hit fifty five except the teacher, lecture, nurse and doctor. The government does not want to employ the old man that is less productive because it load the government budget.
Some company may fired the worker who has hit fifty five.

Find other jobs
If you work at the office or company that need your power, you need to move to other company. The fifty must decrease the activity to keep the health. The fifty five must not be strong as young man. If they got sick, they must be decrease the activity.
If you have a sign that the company will fire you, you have to prepare yourself. Find another company that want use your service and skill. Alternatively, you can use the severance from the company to start a business. Perhaps, you have some idea about business.
In my country, the government organize workshop to help the retire to get some business knowledge such as farm, small business, and others. Some retiree can build a business after they quit from the jobs. It is better than do nothing. An oldman may still work to make money.